Algorand Governance Period 3 - Vote Now Complete

June 20th, 2022 - The cooldown period for the 3rd period of Algorand Community Governance vote is now complete with both voting measures put forward in the third period of Algorand Community Governance now finalized. Of the 3.5 Bn Algo committed by 35.7k eligible governors, the vote results for both measures are outlined below; 

Measure 1: Including DeFi Participants in Governance - 66% of the vote was in favor of option B, rejecting the granting of governor status and a temporary period of twice the voting power to qualified DeFi projects in favor of maintaining the status quo, only Algo holders are governors. 

Measure 2: XGovs: Proposing & Upvoting Measures - 99% of the vote was in favor of option A, to support the establishment of a process for bringing community measures to governance votes: the community at large can propose measures, the expert-governors (xGovs) vote to promote them to governance ballot, subject to final editing.

Detail ( https://governance.algorand.foundation/governance-period-3/period-3-voting-session-1#measure-number-7 ) :

  • Number of Algorand Governors who voted: 35.7k
  • Amount of Algo Committed: 3.5 Billion Algo
  • Governance Rewards for Period: 70.5 Million Algo
  • Governance Rewards Rate for Period 1 ( assuming no Governors become underfunded during the balance of this period ): 1.99%
  • Annualized Governance Rewards Rate: 7.96%

Governance rewards will be distributed after the Governance period finishes. It is critical for Governors to understand that they must not allow their governance wallet balance to fall below their committed amount - otherwise they will be automatically excluded from the Governance period and its associated rewards.